How to Become a Loan Officer

In Florida

How to Become a Loan Officer in Florida

If you are looking for a rewarding career that offers plenty of room for advancement, consider the benefits of becoming a loan officer. As a loan officer, you will help people find lending options that make sense for them and their long-term goals. You must screen applicants to ensure they can repay the loan, which reduces the number of defaults your employer will face. This guide explains the steps you must take to begin your new career.

Educational Requirements

To become a loan officer in Florida, you must take at least 20 hours of classes. You will learn about national and state lending laws as well as ethics related to the lending industry. The facts you learn ensure you stay on the right side of the law and that you protect the interests of your employer. Make sure you pay attention during your classes so that you can improve your odds of passing the exam the first time you take it.

Passing the Exam

The loan officer exam is 125 questions long and gives you 190 minutes to complete the process. You must get at least 75 percent of the questions correct if you want to get your license. Some people are worried that they will fail the exam and not have a shot at starting their dream career, but you don’t have to worry. You can retake the exam if you don’t pass the first time. You will need to wait at least two weeks to retake the exam after failing. Although some people don’t like the waiting period, you can use it as an opportunity to study.

Passing the Background Check

Before you do anything else, consider what crimes might show up on your criminal background report. You must pass a background screening before you can become a Florida loan officer. If you have a felony on your record, you must wait seven years after the date of your conviction to apply for loan officer positions. You can never apply for a loan officer position if you have a felony related to fraud or financial dishonesty.

Finding Work

Now that you have passed your exam and know your background report is clean, you are ready to find work in your field. Finding loan officer positions in Florida is not too difficult as long as you know where to look. Put together a resume and post it online to give yourself as much exposure as possible. You can also reach out to friends and family when you are looking for loan officer positions.

Final Thoughts

Those looking to become a loan officer must take a few classes and pass an exam. In addition to meeting the educational requirements, interested applicants will also need to pass a background check to move forward. Dedicate to taking at least one step toward your desired outcome each day if you are serious about becoming a loan officer, and you will achieve your goal sooner than you once thought possible.

Do you want to learn more about becoming a loan officer? 

Check out our comprehensive guide on How to Become a Loan Officer in 7 simple steps.

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